20211022 Premarket Prep Gold - Bear Market Trader
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20211022 Premarket Prep Gold

20211022 Premarket Prep Gold

#fin­twit #order­flow #day­trad­ing #pre­mar­ket­prep #XAUUSD #GOLD #Forex­trad­er #forex #FX #Forexlifestyle #day­trade #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life 

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for GOLD. This prep builds off of my week­ly trade plan I made here:

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Com­pared against Week­ly Trad­ing Plan

  • Price trad­ing above last week’s body but still with­in the range although no HH made (yet)
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Price closed some­what neu­tral but still higher
    • H4 DBD with no fol­low-through. Instead a Three Inside Up giv­ing H4-C‑D 1780.938 cur­rent­ly trad­ing with­in H4 supply
  • Trend: H4 Up, D1 Down, W1 Up
    • Pre­vail­ing trend: MIXED Trend
  • Mar­ket Profile
    • 4‑day brack­et­ing range, last two days have widen­ing values
  • Dai­ly Range
    • ADR: 20782
    • ASR: 14636
      • 366
    • ASR Short: 7521
      • 188
    • Day
      • Yes­ter­day’s High 1789.360
      • Yes­ter­day’s Low 1776.420


  • LN open
    • Above Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.42xASR
  • Nar­ra­tive
    • Mod­er­ate to Large Imbal­ance. Open at D1 sup­ply. Asia trad­ed high­er into H4 QHi. D1 QHi not reached (yet) after a QLo rejec­tion. D1 200MA and sup­ply in the way to D1 QHi. 
  • Clar­i­ty (1–5, 5 being best)
    • 3
  • Hypo 1
    • Rever­sal short, using pos­si­ble Failed Auc­tion short for confirmation
  • Hypo 2
    • Auc­tion Fade Long, Val­ue edge reversal
  • Hypo 3
    • Sus­tained Auc­tion Long, late sus­tained auc­tion entry preferred 

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • D1-C‑S 1794.175

ZOIs for Pos­si­ble Long

  • H4-C‑D 1780.938
  • D1-C‑D 1768.535
  • D1-C‑D 1762.340

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 20 trades by the end of the month, prefer­ably 2 a day (not in the same prod­uct at the same time) 
    • No ear­ly exits, either hit SL or 2R target
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Process
    • Keep trade review com­ments short
  • Risk Man­age­ment
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING


Day trader. Tech geek. Sim Racing Enthusiast.

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